Hi All
Query:- My Company purchased capital goods in the year 2001, at that time Credit scheme was not avilable under Sales tax. Capital goods in the shape of equipment were not used for manufacturing any taxable goods/product. Actly they were used for cinemagrphy.
Now I want to sell those equipments,, so Should I charge VAT from the purchaser. Section 6(3) of DVAT saying NO only in that case where Company purchased the goods but didint took credit of the same. while at the time of purchase, credit scheme was not in existance. My company is not engaged in manufacturing or trading activity etc.
Thx nd Regards,
Sachin
CAclubindia
